For a reasonable monthly fee, a property owner can hand over all of the headaches of self-managing their investment property to a property management company. However, unless you do your homework, you may end up creating more headaches (and losing…
Month: April 2014
What is REAP (Rent Escrow Account Program) and How Can I Avoid It?
REAP (Rent Escrow Account Program) is a program managed by the Los Angeles Housing Department (LAHD). REAP is an enforcement tool created to ensure that Los Angeles property owners maintain their properties in a safe and habitable condition. A property…
Protect Your Personal Assets (Part III): Transferring Property Ownership from Personal Ownership to LLC Ownership
If an individual chooses to form an LLC for property ownership purposes after the purchase of the property in their own name, it is possible for that individual to transfer ownership. A transfer deed can be executed, delivered and recorded…
Posted in Asset Protection Strategy
Protect Your Personal Assets (Part II): Is an LLC the Right Business Structure to Own My Apartment Building?
LLC’s seem to be the fad right now across the U.S. For many situations, the popularity is warranted. However, it is important for an individual to assess the true nature of their “business” before rushing into the formation of…
Posted in Asset Protection Strategy
Protect Your Personal Assets: Own Your Apartment Building as an LLC or Other Business Entity
Many real estate investors’ properties are owned under a separately formed entity–many times, but not always, by LLC’s. Such alternative ownership structure protects one’s personal assets. For example, if a claim or lawsuit arises relating to real estate owned…
Posted in Asset Protection Strategy
What is “Attorney-Brokerage”?
Negotiating properties is more than just buying, selling or leasing bricks and mortar. One must consider, for instance, the ability of a property to produce cash flow, and that ability is tied into a bundle of legal rights. Analysis of…
Management
Gone are the days when a prudent landlord/owner can entrust a fix-it man to be their property manager. Discrimination, trip and falls, mold, code enforcement, smoke detectors, etc. can make any landlord toss and turn at night. Lawyers and the…
Posted in Income Property, Property Management
Grip Tape on Stairs
Although not necessary, grip tape can help if stairs are slippery from tree droppings, leaves, etc…
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